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2016
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The June S&P/Case-Shiller 20-city Home Price Index rose 5.1% year-over-year, which was in line with estimates and just below the 5.3% recorded in May. The housing market remains steady in a somewhat slowing economy. A spokesperson from Case-Shiller said residential real estate and housing is in g...
08/30/2016
The National Association of REALTORS® reported on Wednesday that sales of previously owned homes unexpectedly declined in July from June due to low inventories and higher prices. July Existing Home Sales fell 3.2% to an annual rate of 5.39 million units, below the 554,000 expected and down 1.6% f...
08/24/2016
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Despite mortgage rates being near all-time lows, homeowners are not refinancing their homes. Black Knight Financial Services reports that the number of borrowers eligible to refinance rose to 8.7 million at the end of June, yet prepayment speeds, which measures refinancing activity, fell in July....
08/22/2016
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A number of Fed members spoke yesterday with various conflicting statements surrounding the timing of interest rate hikes. San Francisco Fed President Williams (non-voter) said the central bank should raise rates sooner rather than later. On the other hand, Dallas Fed President Kaplan (non-voter)...
08/19/2016
Home builders felt slightly more confident in August than in July, reports the National Association of Home Builders (NAHB). The NAHB Housing Market Index (HMI) rose 2 points to 60, while July was revised lower to 58 from 59. Any number over 50 indicates that more builders view conditions as good...
08/15/2016
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Worker productivity declined in the second quarter and has fallen three straight quarters in a row, which could shackle worker pay and broader economic growth in the next few years. The Labor Department reported that Productivity in the April-May-June period fell 0.5% versus the +0.5% expected as...
08/09/2016
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans